Post: #126

(03-02-2012 05:33 PM)Blanco Wrote:  Entropy,

What chart software do use use for your screen shots? Metatrader 4?

I am currently using OANDA for my demo account, however if you take a look at the attached photo, the dormant action on the weekends is also displayed. This will affect the drawing/slopes of my trend lines will it not? If this will throw off any trend line analysis I am doing I need to find a solution.

I am currently using a Mac, so my charting software options are limited in comparison to the PC.

#1.
For my screen shots, i use screenhunter and jet screenshot.

#2.
MT4 is designed for windows. Maybe is you are using VM you can run MT4 on mac....there could also be a way around that...i never tried these methods before....i just did a simple search right now, these are the things that popped out:

http://forum.mql4.com/11239
.





here is another one.





#3.
You can elect to not have the weekend displayed in oanda. I cannot quite recall the steps from memory right now....but i am sure the oanda forum will have all your questions answered:

http://fxtrade.oanda.com/community/fxmes...matebb.cgi

.

Post: #127

(03-02-2012 01:25 PM)Entropy Wrote:  

(03-01-2012 12:55 PM)NuMbEr7 Wrote:  Yo Entropy,
Where did you learn about trading? Any books, courses etc that you can recommend?
We have a 'fake' JSE that is going to run here and its for school kids and university-goers so it's good practice for the real thing...

Which one are you interested in?

stocks? bonds? forex? options? futures?

that will help in regards to your question.

Stocks specifically, but I'd like to learn as much as I can about the market as soon as I can...
So if you wouldn't mind telling us how you learnt trading

Post: #128

Getting Started in Stocks Trading

(03-03-2012 04:44 PM)NuMbEr7 Wrote:  Stocks specifically, but I'd like to learn as much as I can about the market as soon as I can...
So if you wouldn't mind telling us how you learnt trading

Let us start with the MOST elementary, introductory stuff.

First, read this post.

Secondly, grab "How to Make Money in Stocks" by william o'neal. (cost :$11)

Thirdly, start reading investor's business daily.*you can get some free trial subscription*

Fourthly, grab Peter Lynch's "One Up on Wall Street". (cost $11)

Fifthly, grab "Reminiscence of a stock operator" by edwin lefevre. (cost: $15)

That should take care of the introductory stuff. Probably set you back by $35 to $40....which is the cost of two lapdances in america. Any one of those books by itself cost less than one rooshv "bang" book.

Some people say that you should just buy algos.....buy automated trading algorithm....buy EAs....or you should park your money with a broker and let them trade for you; let me just say that.....those two ideas are extremely and incredibly wrong for obvious reasons. Now, if you want to follow down this clearly wrongheaded path(of broker trading your money and buying algos), i suggest you contact this lad, hooligan_harry. He seems to think there is something apparently wrong with painstaking hardwork that builds your trading knowledge to the point where you are consistently successful: He sees that as a get-rich-scheme. (how hardwork to build a successful trading = get-rich-scheme completely boggles the mind...you will just have to ask him)

Otherwise, roll up your sleeves and get busy by getting your hands on those introductory books/newspaper...read and digest them thoroughly..and then get back to me with any questions...i will try my best to be of assistance.

Post: #129

The ASIA trading session starts in a couple of hours....to commemorate the beginning of a new trading week, as customary.(may fortune favours the bold...and the prepared.)



And of course:

Post: #130

My speculation is primarily trend trading on stocks.

Ya the TVIX hurt me big time. I haven't made any trades since.. I am hoping for volatility to resurface.

I figure I can take my 50% loss and move on but I figure the index has minimal downside and huge upside..
It might take a few months or even a few years for the volatilty to respark but I believe it will come back..

What do you think Entropy?

Post: #131

And for those of you thinking about getting into active trading, you have to put in LOTS of time.

It is a cool hobby as being involved with the markets naturally will make you much more aware of economies around the world, politics, current events etc..

It actually gets addicting once you get the hang of it.

You get a great adrenaline rush trading.

Post: #132

EUR/CAD long at 1.3047...the risk is -25pips below entry point....at 1.3097 = +49 pips in profit, i will B/E the trade....

chart attached below:

Post: #133

(03-05-2012 01:27 AM)Sly Wrote:  My speculation is primarily trend trading on stocks.

Trend trading. I love it. Ever read about the Turtles? Michael Covel's book on the matter? Although richard dennis final trading chapter didnt end soo well(especially, after he got into stocks)...but still....I will say that if you are a consummate student of trend trading, commodities trading may fit more. Why? Commodities tend to have long, solid, good trends. When they get going they truly get going. Sometimes the trend will literally last for years. Pick any commodity, it could be cotton or hogs or silver or crude oil or aluminium or cocoa or.....You can dig in and study a couple of them-- diversifying...knowing the in and out of a couple of them...and use that fundamental analysis to determine fair value and of course, use technical analysis to time your entry, riding the swings and waves along for months and years. I held my gold(physical gold, etf, leveraged etf) since 2007 when it was in the $600s until i finally sold everything in september 2011( last year); inbetween, i was adding to positions/pyramiding more and more into it. Unlike stocks that goes in and out based on some stupid shit.

(03-05-2012 01:27 AM)Sly Wrote:  Ya the TVIX hurt me big time. I haven't made any trades since.. I am hoping for volatility to resurface.

Sometimes, that happens....even the best of the best on wallstreet do suffer pain. We all make mistake. We will continue to make mistakes or errors. We are only human. The thing is to prepare for it and limit exposure on any 1 trade such that if we are wrong...it wont hurt us too much. Some will recommend allocating 1% to 8% risk to any particular trade, not 50% risk like you did with the TVIX. Capital preservation is #1. Psychological capital preservation is crucial too. You want to be able to live and fight another day. Will volatility resurfaces? I think it will again as we get closer to march 23rd which is d-day for GREECE. How big will the volatility be? i dont know. To get on top of these fundamental stuff about euro/greece situation, i have compiled a list of reading resources in this post:
/thread-10078-...#pid162637

(03-05-2012 01:27 AM)Sly Wrote:  I figure I can take my 50% loss and move on but I figure the index has minimal downside and huge upside..

You could be right, i dont know...by march 23rd we might have a better idea of what is going to happen to the EURO as we know it. Of course, the upcoming election of the US president could generate volatility in the market....despite the seemingly improving employment numbers. Any other major event risk that will precipitate major volatility? Bubble bursting in china?

(03-05-2012 01:27 AM)Sly Wrote:  It might take a few months or even a few years for the volatilty to respark but I believe it will come back.

What do you think Entropy?

Volatility always come and go. Sometimes, it is best to just bite the bullet and learn some lessons and start over. Limiting trade exposure to 1% of net trading asset is one of them. William O'Neil limits his to 8% of net trading asset. One has to be able to cut losses short rather than hope. Hope is a dangerous thing in the financial market. Ultimately the decision is yours. For all i know volatility can come back tomorrow due to a terrorist attack. Regardless of whatever decision you decide to make. I have only two important questions for you: what lessons have you learned from this trading experience? What are the realistic safeguards you want in place to forever prevent this from happening again? Otherwise, this will just repeat itself at a future date in another form. You cannot avoid losing money in the market. It is part of trading. Nobody wins 100% of the time. Nobody.
May the goddess of fortune, FORTUNA, brings you good tidings, my good lad.

Here is a video on losing money. Very important: The guy lost over $100,000 until he learns to control his losses.





Here is a brutal live demonstration of a trader losing money(he started all very confident...then...slowly the epic meltdown...:

Post: #134

(03-05-2012 04:42 AM)Entropy Wrote:  EUR/CAD long at 1.3047...the risk is -25pips below entry point....at 1.3097 = +49 pips in profit, i will B/E the trade....
chart attached below:

EUR/CAD long position update #2:

Post: #135

(03-05-2012 06:02 AM)Entropy Wrote:  

(03-05-2012 04:42 AM)Entropy Wrote:  EUR/CAD long at 1.3047...the risk is -25pips below entry point....at 1.3097 = +49 pips in profit, i will B/E the trade....
chart attached below:

EUR/CAD long position update #2:

EUR/CAD long position update #3. Previous update was here #2 . Anyways, update #3 shown below. The eur/cad has covered enough ground into profit by +49 pips...almost doubling the initial risk of -25pips.

Post: #136

(03-05-2012 06:09 AM)Entropy Wrote:  

(03-05-2012 06:02 AM)Entropy Wrote:  

(03-05-2012 04:42 AM)Entropy Wrote:  EUR/CAD long at 1.3047...the risk is -25pips below entry point....at 1.3097 = +49 pips in profit, i will B/E the trade....
chart attached below:

EUR/CAD long position update #2:

EUR/CAD long position update #3. Previous update was here #2 . Anyways, update #3 shown below. The eur/cad has covered enough ground into profit by +49 pips...almost doubling the initial risk of -25pips.

EUR/CAD long position update #4. Previous update #3 shown here. EUR/CAD is now +72 pips into profit....with a risk of -25 pips that is already 2.88R on initial risk = 288% return on risk.

This is how you trade...you find high probability trades that gets you a solid win/loss ratio...you try and squeeze in a good risk/reward into it...and then let the laws of large numbers take care of the rest.
(or, you can be lazy, thinking there is a easy road apart from HARDWORK to get consistently profitable; and you can waste your fucking time listening to silly charlatans who doesnt know jack shit about trading who spend their time talking out of their arses about letting their brokers trade their money and how algorithms can automate this kind of trading. I hate idiots. Especially, idiots spewing out garbage about shit they dont know jack about. It will be like me talking about neurosurgery.)

Within a couple of hours...this trade EUR/CAD long....through just risking -25 pips has already returned for me 2.88R which is +72 pips in profit = 2.88 TIMES my original investment. that is 288% return on the risk i put down. . I did all this roughly at the same time while these idiots were wasting their fucking time starting threads/commenting on the sex lives of hugh hefner, or some stupid shite like whether hugh hefner is alpha or beta dichotomous garbage or whether he likes it in the arse like a doughboy. As for me? I mostly ignore such cacophony of stupidity and spend my precious time making 288% return on my risk in the market in a couple of hours. Money talks and bullshit walks. We all have ways we want to spend our precious time in this short life.

Once again, here is the updated chart below(that returned 288% on risk between the start of the asian trading session and the middle of london trading session...mere hours, really. ).

P.S. I think i should quickly add this update: It is now up by +82 pips = 3.28R on initial risk. That is how you rock and roll.

Post: #137

Entropy is a fraud.

He copied and pasted all this shit from somewhere.

Fuck you, you little bitch.

Aloha!

Post: #138

Keep threatening me you little fake faggot.

Off here I'd smoke your ass you queen bitch.

You'll be gone soon. How do dicks taste?

Fuck you.

Aloha!

Post: #139

(03-05-2012 08:42 AM)Kona Wrote:  Entropy is a fraud.

He copied and pasted all this shit from somewhere.

Fuck you, you little bitch.

Aloha!

(03-05-2012 08:55 AM)Kona Wrote:  Keep threatening me you little fake faggot.

Off here I'd smoke your ass you queen bitch.

You'll be gone soon. How do dicks taste?

Fuck you.

Aloha!

hahahahaha. LOL. i love the hate....hater gonna hate. Oh yeah, i have given rooshv a list of some of my other userids and passwords at other forums. He can verify for a FACT that i am the same person under different userids.

P.S rooshv PM advise me to take a couple of weeks off to let things cool down with these haters....might actually be a good idea.

Post: #140

(03-05-2012 01:16 PM)Entropy Wrote:  

(03-05-2012 08:42 AM)Kona Wrote:  Entropy is a fraud.

He copied and pasted all this shit from somewhere.

Fuck you, you little bitch.

Aloha!

(03-05-2012 08:55 AM)Kona Wrote:  Keep threatening me you little fake faggot.

Off here I'd smoke your ass you queen bitch.

You'll be gone soon. How do dicks taste?

Fuck you.

Aloha!

This guy just woke up this morning and decided to send me all these shits and insulting personal PMs.....hahahahaha. LOL. i love the hate....hater gonna hate....Oh yeah, i have given rooshv a list of some of my other userids and passwords at other forums. He can verify for a FACT that i am the same person under different userids.

I honestly have no idea where all the hate is coming from. All i do is post trading tactics and methods....blended from financial and trading textbooks and years of experience. With charts showing BEFORE the trade was taken and after the trade has been taken....and when the trade is completed. To keep it real. No ex post facto shit.

Apparently that seriously get under the skin of some people. WHOA.

Anyways, rooshv has some of the userids and passwords to confirm for a fact that i am the same person. There is no rule against crossposting.

All i know is that i doing my thing on this thread, making it rain, laying it all down. Some people seems to have problem with that...talking trash and trying to start drama with me. Hating my style, hating my method, without showing THEIR OWN WAY OF MAKING MONEY IN THE FINANCIAL MARKETS.

P.S rooshv PM advise me to take a couple of weeks off to let things cool down with these haters....might actually be a good idea.

(they see me rollin'...they hatin'.. tryin' to catch me ridin' dirty.....to all my haters, this video is for you.)

Post: #141

(03-05-2012 06:40 AM)Entropy Wrote:  EUR/CAD long position update #4. Previous update #3 shown here. EUR/CAD is now +72 pips into profit....with a risk of -25 pips that is already 2.88R on initial risk = 288% return on risk.

This is how you trade...you find high probability trades that gets you a solid win/loss ratio...you try and squeeze in a good risk/reward into it...and then let the laws of large numbers take care of the rest.
(or, you can be lazy, thinking there is a easy road apart from HARDWORK to get consistently profitable; and you can waste your fucking time listening to silly charlatans who doesnt know jack shit about trading who spend their time talking out of their arses about letting their brokers trade their money and how algorithms can automate this kind of trading. I hate idiots. Especially, idiots spewing out garbage about shit they dont know jack about. It will be like me talking about neurosurgery.)

Within a couple of hours...this trade EUR/CAD long....through just risking -25 pips has already returned for me 2.88R which is +72 pips in profit = 2.88 TIMES my original investment. that is 288% return on the risk i put down. . I did all this roughly at the same time while these idiots were wasting their fucking time starting threads/commenting on the sex lives of hugh hefner, or some stupid shite like whether hugh hefner is alpha or beta dichotomous garbage or whether he likes it in the arse like a doughboy. As for me? I mostly ignore such cacophony of stupidity and spend my precious time making 288% return on my risk in the market in a couple of hours. Money talks and bullshit walks. We all have ways we want to spend our precious time in this short life.

Once again, here is the updated chart below(that returned 288% on risk between the start of the asian trading session and the middle of london trading session...mere hours, really. ).

P.S. I think i should quickly add this update: It is now up by +82 pips = 3.28R on initial risk. That is how you rock and roll.

Took a tiny break from my weeks long hiatus just to tidy things up, i.e, eliminate any loose ends, so to speak with regards to ongoing trade. the EUR/CAD long from 1.3045 i took on the 5th of this month. Just closed it a couple of hours ago for +131 pips. (that must hurt the haters...deeply. Haters, how do you like them apples? hahahaha. )

There are those who shows HOW it is done...and then, there are haters who all they do is TALK about how it should be done WITHOUT PROOF! When you see haters...it is only fair to ask: show us your method? show us your proof? They have nothing!

Hey, money talks and bullshit walks, haters.

You can track the evolution of the trade long EUR/CAD from beginning to the end by reading through previous posts #1, #2, #3, #4. ....you can see with your own eyes as the trade develops...i have also attached the charts below showing the evolution. Haters hate facts and proofs.

Like i said before, HATERS gonna hate and hate and hate..........this is what they do. They have nothing...here i am dropping it like its hot. wins after wins...money after money...making it rain...heck, making it flood...steadily sharing my storehouse of financial trading knowledge....and those haters? where is their trading strategies? where is their calls in the financial markets? from last week? 2 weeks ago? 3wks ago?....3 months ago?...anything at all?!? nothing! poof! zero!

Like i said, money talk and bullshit walks.

Here is a thought:
If any of those haters want a rooshvforum trading competition in any financial instruments, i am game on. I am willing to bet none of those haters will do this? why? because they have nothing! All they have are spreading lies and hate about me and trying to get me banned. All i do is kick back and do my thing on this thread and TRANSPARENTLY display my trading setup before i take the trade...then follow that with update of the trade progression...and when the trade is completed. No bullshit. Read the thread from the beginning and point to me when i dont do this. I lay it open like a spread-eagle bitch in heat.

What do the haters have in return? Nothing! Nada! Zilch! Money talk and bullshit walks.

Anyways, you can read this thread and see how i take those trades from beginning to the end, no ex post facto shit. You see BEFORE and the MIDDLE and AFTER.

Before i head back to my weeks long hiatus from this thread, it is only fitting that i should leave you good lads with the +131 pips profit completion of the EUR/CAD trade that was taken on 5th of this month...to tie all loose ends, so to speak. The today is the 8th. Closed the trade for +131 in profit. Enjoy the charts and grab the popcorn as the haters cry themselves to sleep....whenever hates speak shite about me...it is only fair to simply ask them: where is your winning method? where is your proof? show us or shut up!

(see you lads in a couple of weeks....)

Post: #142

#3.
You can elect to not have the weekend displayed in oanda. I cannot quite recall the steps from memory right now....but i am sure the oanda forum will have all your questions answered:

http://fxtrade.oanda.com/community/fxmes...matebb.cgi

.





[/quote]



Under "Tools", "User Preferences", you can choose an option to hide the weekend data. Thanks Entropy.

Post: #143

yeah that's ridik for ole' boy to be accusing you like that. You've dropped some pretty sound knowledge here and as a beginner in Forex, I appreciate it.

This is 5th demo trade I've done so far since Feb. and I am looking at trading the USD-ZAR. Right now I'm just looking at where to get in. On the 1hr chart (using just charting in FXCM demo) the market has rallied 1,250 pips in the last 30 something hrs which to me seems like alot.

The market seems to have gone sideways since the beginning of Feb. but the waves are great so I bet there's alot of profit to capture. I'll keep checking in to see where to get in.

If anyone else is looking at this pair please add your thoughts and include strategies as I will also include mine in the days to come.

   

Post: #144

I finally got into 2 shorts on he USD/ZAR:

1) short

entry: 7.58800

stop: 15 pips beyond resis. (7.59506) - 10:59 am moved to 7.58615)

limit: 7.55310

potential gain : 379pips

2) short

entry: 7.57780
stop: 7.58090
limit: 7.55650

potential gain : 213pips
loss: 31


updates:

11:50 -stops both moved to 7.57135

Post: #145

Glad to see you bang coin on those trades. Keep up the good work.

(03-12-2012 10:56 AM)choichoi Wrote:  I finally got into 2 shorts on he USD/ZAR:

1) short

entry: 7.58800

stop: 15 pips beyond resis. (7.59506) - 10:59 am moved to 7.58615)

limit: 7.55310

potential gain : 379pips

2) short

entry: 7.57780
stop: 7.58090
limit: 7.55650

potential gain : 213pips
loss: 31


updates:

11:50 -stops both moved to 7.57135

Post: #146

just doing the rounds before i head back to my hiatus...good work on those trades. Keep it up, good lad.

(03-12-2012 02:41 AM)choichoi Wrote:  yeah that's ridik for ole' boy to be accusing you like that. You've dropped some pretty sound knowledge here and as a beginner in Forex, I appreciate it.

This is 5th demo trade I've done so far since Feb. and I am looking at trading the USD-ZAR. Right now I'm just looking at where to get in. On the 1hr chart (using just charting in FXCM demo) the market has rallied 1,250 pips in the last 30 something hrs which to me seems like alot.

The market seems to have gone sideways since the beginning of Feb. but the waves are great so I bet there's alot of profit to capture. I'll keep checking in to see where to get in.

If anyone else is looking at this pair please add your thoughts and include strategies as I will also include mine in the days to come.

Post: #147

mr sly, here is a video for you:

http://video.google.com/videoplay?docid=...7078611049

entertaining and informative.

(03-01-2012 03:30 AM)Sly Wrote:  

(02-27-2012 06:24 PM)Entropy Wrote:  

(02-27-2012 07:59 AM)Sly Wrote:  I fucked up and bought the TVIX in December. Down about 50% on it. I bought it in July also and made over 100% on it so not to bummed about it.

I hope the markets get shaky again soon.

Good thing I hedged with NOR and WFC but only covered half my losses.

First off, let me just say congratulations on your earnings. Always good to bag them. In addition, i did a check, NOR and WFC both went up today.

Now, if i may say so, i don't seem to understand your hedging strategy.

The way i understand hedging is that you find correlated financial instruments and you take opposite trading decision in them to balance out any adverse portfolio risk.

There are hundreds of way to do this, but let me give three or so examples:

Let us assume that you think that AMZN is a solid company with a kick arse business model and that her counterpact, NFLX, is a stupid company with a dumb business model. They are both in the online retail space. So, you go LONG shares of AMZN worth say $50k, then you turn around and go SHORT shares of NFLX worth say $50k.

two scenarios: You make money in both of them (2)You make money in one and lose money in the other, thereby neutralizing each other. option #3 where you lose money in both is rare unless you havent done your homework.

Example #2: You like AAPL...so you went LONG shares of AAPL and as insurance against unforeseen events, you use PUT options to hedge against potential downside.

Example #3. You are an American Midwestern farmer of Hogs or Cattle. You do not know if the drought in Ukraine or mad cow disease in Britain will affects your profit potential this year...since you are a farmer that implicitly means you are already LONG these farm animals. So, as a hedge against price fluctuatons against you, you sell commodity futures at the CBOT in hogs or cattle as a hedge against adverse drop in price of cattle.

Example #4. You are an international conglomerate....massive currency devaluation of the euro against the USD is going to squeeze the crap of your profit margin....So, you went short the EUR at the currency futures or spot forex or PUT option to hedge against EUR devaluation deleterious effects on your profit margin.

Example #5. You are an airline company...the rising price of jetfuel due to terrorism and global instability is killing you. So, you bought CALL options on kerosene futures to hedge against the rising cost of oil on your bottomline....the profit you make going long upsets the rising cost of jetfuel for your company helping to make your flights cheaper and beat the competition.


There are many other examples, of course. Multiple ways to slice and dice. It is just that i fail to see the connection between using wells fargo bank(WFC) and aluminium(NOR) to hegde volatility index(TVIX) of the market. I will appreciate your education in such matters. I always like to learn new things.

Entropy,

I guess I would say my way of looking at hedging is not textbook.

When I think hedging, I think of protecting my investments.

I was an extremely active trader April 2011 - December 2011. I was up everyday at 6:30 in the morning trying to find trends. Made good money at 22% return with a $15K portfolio. It's now worth over $18K

Anyways in December, when markets were still extremely shaky and noone knew if the gains would hold, I decide to go long (Long for me is more then one month without touching it) on WFC and NOR.

I got WFC at a little under $26 & NOR at $8. and put $2K into each equity.

Due to the market volatility, I wasn't sure which way markets would move.

I stopped looking at the markets the first week of December because I started traveling.

So in case shit went south, I decided to put another $2K in the TVIX.

I got in around $35.

The way I looked at it, if the market collapsed, my TVIX would jump up to around $60 and WFC and NOR would dip down to around there 52 week lows.

Well, finally the market calmed down and I wish i would have not gone with my hedging strategy.

Definitely not your traditional way of hedging, but I am not traditional when it comes to most things in life. i listen to my gut and that is what my gut wass telling me to do..

You seem like you know your stuff Ent..
Would you consider that a hedge? or what should my investment strategy be called?

Post: #148

(02-23-2012 03:48 AM)Entropy Wrote:  LAtest news on credit agricole
http://www.marketwatch.com/story/credit-...=bigcharts

Like i said, i am not into any bank...including goldman sachs. This toxic derivative shit makes me allergic to all of them.

I think ACA is bearish to neutral. That is, if you look on the 3 year chart you will notice a consolidation between the levels of 4 and 6. I expect resistance at 6. Basically, it looks like the stocks is moving back and forth between those two price points: direction neutral.

Now, if you go to the YTD chart...you can see the double top formation + the trendline break to the downside...this technically indicates a bearish condition.

Mr. JULIO26,

I like doing followups....FR:ACA is now at 4.50...resting on support...will it bounce or break down through support? only time will tell. Of course, i was bearish on this from 5.01, technically speaking. Now, new decision, how will it handle 4.50? i dont know.

Last time it was at 5.011...now...it is at 4.50. that is a 10% gain in the short direction. chart update attached:

(commerzbank hasnt break the 3.0 recommendation to technically trigger a bullish reaction.)

Post: #149

Alright, that is it for me. back to my hiatus. as a parting present/mark the beginning of a new trading month, i present this fine piece from athlone mcginnis(the man is doing the lord's work).

this is how i like my bitches:

Post: #150

Happy hunting Entropy. I've been getting banged by USD/ZAR alot mostly cause I've been just jumping in and not coming up with a solid entry plan. This time, stepped back and studied the mistakes I've been making: bad entry nnd placing stops to close (this pair is hella volatile). I spent hours setting this up and it paid off, well:
3/30

usd-zar

long-7.61460
stop-7.54621
limit-7.717

r/r: 1/1.5


explanation:

USD/ZAR is still in uptrend and I have identfied a very consistent uptrend channel on the 4hr.

Fib levels drawn from
A:03/27/2012 5:00:00 to B 03/29/2012 9:00:00

Plan to buy at convergence of trendline and s1 level 7.61460

Stop will be at s2 level 7.54621 (-683pips)
Limit will be 7.717 (+1024)

Results
+861 pips

sold at 7.00750; 163pips short of limit order - got nervous because it seemed like previous candle 04/03-12:00 slipped past my limit -glitch maybe -decided I was happy making back my losses and then some. May get back in once market bounces of r/s level.